Internet scammers have started preying on people seeking advice from money saving guru Marting Lewis.

A wave of con-artists have started using the name of Martin Lewis, founder of Money Saving Expert website, to try and swindle cash out of victims.

There are 20 scams using his name and he has been forced to take on Facebook to tackle the fraudsters, who have used the social media giant to set up the “worrying new” sting.

The scam targets Facebook users

They are using Martin’s reputation to try to fool victims into signing up for things such as Bitcoin binary trading scams, or other dodgy investments, the Mirror reports.

Martin revealed that one man, who lost £19,000 in one of the scams, will not reveal his identity because the sophisticated con left him believing he had really fallen victim to Mr Lewis, who has spent years helping vulnerable people.

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Money Saving Expert Martin Lewis' name is being used by scammers targetting vulnerable people (Image: ITV)

Crooks have also used fake pages that look like they are from the BBC, Richard Branson and the Mirror, he warned.

He said: “We have an epidemic of scum who are scamming vulnerable people. It’s been incredibly intense over the past year. It slowed down at the end of last year up until a month ago - then it started again.

“This is about the 20th time that it’s had my name on it. It’s a big drain on our resources dealing with these scammers.

“I’m sickened that yet again people are trying to take my good name and reputation and con vulnerable people.

“Facebook is the big culprit. They take money for adverts, but don’t have systems in place to take down these fakes quickly enough.

“I have reported to Facebook countless times that an advert with my name on it isn’t from me. They are fake. I do not do adverts, especially anything to do with get rich quick schemes.